Open Economy Macroeconomics Reader

Technically speaking, open economies are any that engage in international trade. However, the smaller the economy, the more open it can be presumed to be because fluctuations in international trade have a far greater impact on a countrys trading conditions and it is unlikely to produce the full range of its own goods and services. The US, therefore, can be considered to be a relatively closed economy as its imports and exports amount to only a fraction of its gross domestic product. Smaller countries, on the other hand, rely much more heavily on their neighbours. Open Economy Macroeconomics: A Reader draws together the seminal contributions to the literature on macroeconomics in open economies and illuminates the material by way of a range of key features: Discussion questions Suggestions for further reading Reference to the key journal articles in the field Boxed key terms Students are thus provided with an essential guide to the subject as commented upon by the most influential commentators. Amongst those whose work appears are Robert Mundell, Charles Goodhart, Paul de Grauwe and James Meade.Ugur, Mehmet is the author of 'Open Economy Macroeconomics Reader' with ISBN 9780415253321 and ISBN 0415253322.